WHAT DID UNIVERSAL LOGISTICS BUY WITH $65 MILLION?
For expanding its intermodal business, Universal Logistics Purchases Southern Counties Express for $65 Million, announcing Aug. 10 it is acquiring Compton, Calif.-based Southern Counties Express Inc.
This is the second acquisition by Universal in 2018. In February, it purchased Fore Transportation Inc. for $34.9 million. Based in Harvey, Ill., south of Chicago, Fore provides intermodal logistics solutions as well as local and regional drayage services. Included in the purchase was a 28-acre facility next to a major interstate and adjacent to a Canadian National Railroad intermodal terminal.
Southern Counties provides full-service harbor drayage, transloading, warehousing and project cargo services to industries that include retail, health and fitness equipment, and electronics. For 25 years, Southern Counties has focused much of its business at the ports of Los Angeles and Long Beach, No. 1 and 2 , respectively, in the United States based on container volume. According to the Port of Los Angeles, Southern Counties was a top-ranked carrier at that facility in 2017 based on the number of moves.
“For three generations, Southern Counties built a successful reputation servicing the ports of Los Angeles and Long Beach, and we look to continue that long tradition,” Universal CEO Jeff Rogers said in a statement. “The addition of Southern Counties gives Universal a meaningful footprint in Southern California and a solid platform for further expansion in this key transportation market.”
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http://sowoll.com/en/blog/post/452-what-did-universal-logistics-buy-with-65-million
This is the second acquisition by Universal in 2018. In February, it purchased Fore Transportation Inc. for $34.9 million. Based in Harvey, Ill., south of Chicago, Fore provides intermodal logistics solutions as well as local and regional drayage services. Included in the purchase was a 28-acre facility next to a major interstate and adjacent to a Canadian National Railroad intermodal terminal.
Southern Counties provides full-service harbor drayage, transloading, warehousing and project cargo services to industries that include retail, health and fitness equipment, and electronics. For 25 years, Southern Counties has focused much of its business at the ports of Los Angeles and Long Beach, No. 1 and 2 , respectively, in the United States based on container volume. According to the Port of Los Angeles, Southern Counties was a top-ranked carrier at that facility in 2017 based on the number of moves.
“For three generations, Southern Counties built a successful reputation servicing the ports of Los Angeles and Long Beach, and we look to continue that long tradition,” Universal CEO Jeff Rogers said in a statement. “The addition of Southern Counties gives Universal a meaningful footprint in Southern California and a solid platform for further expansion in this key transportation market.”
......
http://sowoll.com/en/blog/post/452-what-did-universal-logistics-buy-with-65-million
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